Oil prices soar amid uncertainty over dialogue between Iran and the US
The hope of ending the conflict that began on February 28 with Israel and the United States' attacks on Iran dissipated on Saturday when President Donald Trump canceled the dispatch of his negotiators to Islamabad, the seat of the talks with Iran.
TL;DR
- Oil prices increased amid uncertainty in US-Iran peace talks.
- West Texas Intermediate rose 1.1% to $95.44 per barrel; Brent crude gained 1.3% to $106.66.
- President Trump canceled US negotiators' trip to Islamabad for talks with Iran.
- A truce has been maintained, but Iran continues to block the Strait of Hormuz.
- Iran stated the Strait will remain closed as long as the US blocks its ports.
- Asian stock markets were mixed, with Tokyo, Seoul, and Taipei up due to tech giants.